Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
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Tomorrow, 22 February 2012, is the annual budget speech. It is a very important speech because it determines economic policy for the year ahead and also of course in the longer term for the next few years. It is the time when the usual announcements are made about the increase on tobacco and alcohol products, but there are usually a few surprises as well.
One hopes that the Road Accident Fund will receive another increase, as its increases have not kept pace with inflation over the years and perhaps a lump sum injection as well. Certainly, from my point of view, I would put at least another R1,00 onto each pack of cigarettes, but I am sure it is going to be something much smaller like 50c. I would like to hear from you as to what you think we are likely to see tomorrow in our budget speech and certainly read the comments below. I think the untouchables are that VAT cannot be increased, but we may possibly see an increase in tax for higher income earners as well as companies.
Posted by Michael de Broglio on Tuesday 21-Feb-12
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Comments
Bianca said:
on Friday 24-Feb-12 04:32 PM
The budget speech is always kinda depressing but its a case of feeling sad for a day and then moving on because it is inevitable that we land up paying more of our money to support those who dont pay tax. Story of our lives.
Daniela said:
on Friday 24-Feb-12 11:07 AM
Every year, without fail, the Annual Budget Speech is a hot topic in the weeks leading up to it and then frazzles away, prices go up and we carry on. Regardless of what our vices may be, we earned the money and we should be able to spend it how we like. Although, it would be nice to maybe stop subsidising everything and everyone in this country - due to poor management.
Corné Romer said:
on Friday 24-Feb-12 10:49 AM
Lucretia couldn’t have said it better…
cherise said:
on Tuesday 21-Feb-12 01:56 PM
I must be honest that I have not taken any note of the annual budget speech. I will be sure to catch it tomorrow and see how much more our lifes and income and expenditure is going to be affected.
Mila said:
on Tuesday 21-Feb-12 10:36 AM
What's more important than changes to budget is implementation of a strict control over the allocated funds, especially in such essential areas as education and health. Education is an incredibly serious issue in South Africa with extremely low quality of public schools (particatly in Gauteng) and overpriced private education.
Kaylene said:
on Tuesday 21-Feb-12 10:07 AM
I hope that they can give more money to the Government Hopsitals, as some of us who dont have medical aids have to suffer due to machine's being broken,etc. According to me doesnt matter how much money each sector gets, they never do enough with all that money being given to each sector. We always seem to hear that there is no money to do this and that. Obviouxly there wont be money because our executive people are spending Thousands of Rands in Hotel, and Travel Allowances.
Angelique said:
on Tuesday 21-Feb-12 09:30 AM
I agree with Mila - it is important that there is strict control over the allocated funds. Not sure how they going to do that but it has to be done. The money needs to be monitored closely so that no theft from government can be done... but lets face it how is that going to happen. I prefer cigarettes going up then fuel going up!
Brenda said:
on Tuesday 21-Feb-12 09:06 AM
I am a smoker and i do understand the risks it has on my well being, i do also understand that it is an expensive habit, but a habit that I am paying for none the less. I understand too that every year after the budget speech, the price increases, and yes i still smoke.... A choice i have to live with.
However, I can say that more money is spent in one night on alcohol by some, than i spend on cigarettes in a week, and that i understand is their choice.
At the end of the day, no matter what we do (wrong or right) the cost of living today is crazy! and whether you smoke or not, drink or not, the fact remains that we can barely survive in this day and age with costs of nearly everything increasing.
Genevieve said:
on Tuesday 21-Feb-12 08:59 AM
I really hope they increase the price of alcohol. There really are worse things than smoking as bad habits. Again, what people decide to spend their money on is entirely their choice. There might be things that you choose that someone else doesn't appreciate. We live in a free world, and it should stay that way. There are people that decide to have unprotected sex, but no one comments on that? And smoking has never been the cause of a murder...
Liesl said:
on Tuesday 21-Feb-12 08:51 AM
I think one can only milk a cow for as much milk as it can give and generally the "contributing" public is already being pushed beyond their limits.
Mila said:
on Tuesday 21-Feb-12 08:51 AM
What's more important than changes to budget is implementation of a strict control over the allocated funds, especially in such essential areas as education and health. Education is an incredibly serious issue in South Africa with extremely low quality of public schools (particatly in Gauteng) and overprices private education.
elaine said:
on Tuesday 21-Feb-12 08:43 AM
i think it is absolute rubbish that us the general public have to pay for toll roads,when we the general public where not even given a choice on the matter,yes the usual put up cigarettes and alcohol, but what about all the people that dont pay there taxes,free housing free electricity etc,we pay more levies and taxes on cars and fuel than most 1st world countries and the same on our foods,the only ones that beat us is brazil!
Simone said:
on Tuesday 21-Feb-12 08:37 AM
I completely agree and hope that cigarettes gets increased. Although I doubt that it would stop people from smoking and it would only let them spend more money each month on something that they don't really need.
Shane said:
on Tuesday 21-Feb-12 08:13 AM
I think one of the most anticipated announcements will be the 20 Billion loan repayment structure for the national roads. Tolls seem to be the solution, but will government increase the fuel price long term and then implement a smaller amount for the tolls or will they scrap the tolls completely. In my opinion the tolling of roads will not be scrapped as government will not allow what the national roads agency has already spent on the state of the art toll structures to become a white elephant. Either way the public will still be paying for the upgrading of our national roads, whether the solution comes from tolling or increase in the fuel price.
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
